The private placement resulted in aggregate gross proceeds of $500,000, of which $465,000 was received from related parties. The private placement consisted of the issuance of 25 million units at two cents per unit, with each unit consisting of one common share and one common share purchase warrant. Each whole share purchase warrant shall entitle the holder to purchase one common share at a price of five cents, exercisable for a period of 12 months.

All securities issued under the private placement are subject to a four-month and one day hold period from the date of closing. Final acceptance from the TSX-V is expected shortly.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.